Decarbonizing German Family Firms

In this Open Access Publication, we present four chapters that provide a holistic view of the critical steps in a family firm's decarbonization journey. Achieving the EU's climate targets relies heavily on German family firms, given their pivotal role in the economy and substantial greenhouse gas (GHG) emissions. First, we explore the measurement and accounting mechanisms of GHG emissions, leveraging data from German family firms across various industries. Second, we examine the management of goal tensions between environmental and economic objectives, focusing on how family firms can derive value from their emissions data. Third, with the upcoming Corporate Sustainability Reporting Directive (CSRD) and the importance of communicating decarbonization efforts to stakeholders, we analyze the implications of this reporting mandate for family firms. Fourth, given the high investment demands of decarbonization measures, profitability remains a critical concern. Therefore, we also delve into the relationship between corporate environmental performance and corporate financial performance, highlighting the intersection of sustainability and long-term financial viability.

This book is open access, which means that you have free and unlimited access Reconciles decarbonization and competitiveness as economic and environmental goals are integrated and tensions reduced Points towards the ability to reach competitive advantages as a firm through decarbonization activities Focus on the research context of family firms, which are underrepresented despite unique environmental behavior

Autorentext

Gunther Friedl is professor of Business Administration and Management Accounting, head of the department of Management Accounting and dean of TUM School of Management.

Inhalt

• Measurement and Accounting of Greenhouse Gas Emissions.- Management of Goal Tensions in Strategic Decision-Making.- Reporting of Sustainability Information under the CSRD.- Assessment of Financial Performance of Decarbonization.